SBP key policy rate announced in Monetary Policy Committee meeting
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The State Bank of Pakistan, in a recent meeting of its Monetary Policy Committee (MPC) on Thursday, announced its decision to maintain the interest rate at 22%, despite earlier predictions from various brokerage houses suggesting a potential increase of up to 200 basis points, which would have brought it to 24%.
This decision was influenced by the observation that inflation, which had surged in recent months, was now showing signs of slowing down.
The MPC stated, "The decision to keep the interest rate unchanged is based on the latest inflation data, which indicates a continuous decrease from its peak of 38% in May to 27.4% in August 2023
